Falling trade expansion index falls for second month followed

According to the expansion of Trade Index (IEC) of February, there was a decline of 6 percent compared to January and rose from 72.1 to 67.7 points. In comparison with the same period last year, the reduction was even greater ( -26.7%). IEC data are calculated monthly by Federation of trade in goods, services and tourism of the State of São Paulo (FecomercioSP), which associates this retraction to the pessimism of entrepreneurs with the current economy, which leads to continued reduction of staff and limited business investment.